Segall Bryant & Hamill LLC Invests $1.01 Million in International Paper (NYSE:IP)

Segall Bryant & Hamill LLC purchased a new position in shares of International Paper (NYSE:IP) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 20,600 shares of the basic materials company’s stock, valued at approximately $1,006,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IP. CreativeOne Wealth LLC bought a new position in shares of International Paper in the 1st quarter valued at approximately $431,000. Gabelli Funds LLC bought a new position in shares of International Paper in the 1st quarter valued at approximately $215,000. Quadrature Capital Ltd raised its stake in shares of International Paper by 51.1% in the 1st quarter. Quadrature Capital Ltd now owns 32,659 shares of the basic materials company’s stock valued at $1,274,000 after acquiring an additional 11,049 shares in the last quarter. Ascent Group LLC raised its stake in shares of International Paper by 1.0% in the 1st quarter. Ascent Group LLC now owns 63,018 shares of the basic materials company’s stock valued at $2,459,000 after acquiring an additional 620 shares in the last quarter. Finally, Paloma Partners Management Co bought a new position in shares of International Paper in the 1st quarter valued at approximately $1,111,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Price Performance

Shares of NYSE:IP opened at $59.32 on Friday. International Paper has a 1-year low of $32.51 and a 1-year high of $60.22. The firm has a market capitalization of $20.61 billion, a PE ratio of 50.70 and a beta of 1.02. The business’s 50 day moving average is $51.45 and its 200-day moving average is $47.35. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.20. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same quarter last year, the firm earned $0.64 EPS. International Paper’s revenue for the quarter was up 1.6% compared to the same quarter last year. Sell-side analysts predict that International Paper will post 1.22 earnings per share for the current year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a dividend of $0.4625 per share. The ex-dividend date is Friday, November 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.12%. International Paper’s dividend payout ratio (DPR) is presently 158.12%.

Insider Buying and Selling

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on Friday, November 15th. The stock was sold at an average price of $56.19, for a total value of $33,714.00. Following the completion of the transaction, the director now owns 37,745 shares in the company, valued at approximately $2,120,891.55. The trade was a 1.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Clay R. Ellis sold 9,000 shares of International Paper stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total value of $439,470.00. Following the completion of the transaction, the senior vice president now owns 49,832 shares of the company’s stock, valued at approximately $2,433,296.56. The trade was a 15.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,440 shares of company stock worth $944,540 in the last 90 days. 0.55% of the stock is owned by company insiders.

Analyst Ratings Changes

IP has been the topic of a number of recent analyst reports. Royal Bank of Canada raised their price objective on International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a report on Wednesday, November 13th. Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a report on Wednesday, August 14th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $61.00 target price (up previously from $57.00) on shares of International Paper in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.54.

International Paper Company Profile

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.